Real Estate Costs are Hurting Florida
October 4, 2007 – 1:40 pm | by Erik HersmanThis isn’t really news to anyone who lives here in Orlando. However, there is an interesting article in the RealEstateJournal about the reasons why Florida is having problems with attracting new people to the state.
Some interesting points:
Moving company Atlas Van Lines brought 6,700 families into Florida last year and took 8,000 out, the first time it has moved more out than in.
While foreigners continue to arrive at a rate of about 100,000 year, migration from inside the country is slowing. (RE Agents, you hear that? Better change your strategies…)
A two-tier tax system hits newcomers and part-time residents harder than long time homeowners.
Ms. Thomas and her husband bought a $168,000 house. The mortgage, with property taxes and homeowner’s fees, comes to about $1,500 a month — more than half a month’s pay.